The present perfect tense is formed using the present tense of the auxiliary verb "have" and the past participle of the main verb. It is used to express actions that started in the past and have relevance in the present. Examples of the present perfect tense include "I have seen ET", "You have eaten mine", and "She has not been to Rome". The auxiliary verb and subject are often contracted in spoken English, such as "I've" and "she's".